Omeros (NASDAQ:OMER)

CAPS Rating: 2 out of 5

Recs

1
Player Avatar zzlangerhans (99.76) Submitted: 10/4/2011 6:30:45 PM : Underperform Start Price: $4.09 OMER Score: +10.23

Omeros closed as low as 3.17 in the early August decline and I see them as vulnerable to revisiting that low, or worse. OMS103HP is a joint irrigant comprised of old generic compounds that has already failed one phase III trial in ACL reconstruction. The company is now initiating a phase III trial of OMS103HP in arthroscopic meniscectomy with data expected in H1 2012, but I'm not very optimistic for positive results. The company is also beginning a phase III trial of OMS302, an ophthalmologic irrigant likewise comprised of repurposed generics. Like fellow repurposers Rexahn, Zalicus, and Ampio with a limited record of success, I see Omeros primed for a long future of failure.

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